That is my worry too. I have the Colorado pass and haven't even used my Ten Days yet. I'd hate to see the cheaper pass get dropped because of this new one. I understand the need for the resorts to keep sales up to continue improvements (etc), but they still need a pass that is affordable to the regular folks living nearby.
i've only used 3 of my 10 days at vail/bc. i'm not even sure if i'll use any more of them. i agree with KC, that they most likely will not eliminate the colorado pass (though it is still a worry). it is the best deal by far if you live on the front range. i just wish i could use mine during the week so i could enjoy some empty lift lines.